FinCEN Issues Initiatives to Combat Fraud in Minnesota
Published on January 14, 2026The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) recently announced several actions, including the issuance of a Geographic Targeting Order (GTO) to require banks and money transmitters located in Hennepin and Ramsey Counties to report additional information about funds transferred outside of the United States, as well as the issuance of an Alert to urge financial institutions to identify and report fraud associated with Federal child nutrition programs.
The terms of the GTO are effective beginning February 12, 2026, and ending August 10, 2026.
FinCEN also recently provided on-the-ground training for Minnesota-based Federal, state, and local law enforcement on how to utilize financial data, such as Suspicious Activity Reports, to better combat these fraud schemes.
Geographic Targeting Order Resources
Please review and share the following resources with appropriate personnel.
- Geographic Targeting Order Imposing Recordkeeping and Reporting Requirements on Certain Financial Institutions in Minnesota (Federal Register)
- Geographic Targeting Order Submission Template (.csv download) (FinCEN)
- Geographic Targeting Order Template Dictionary (FinCEN)
- Press Release (FinCEN)
- Frequently Asked Questions (FinCEN)
Need Additional Support?
For technical assistance or questions related to filing, including FI Portal access or GTO submissions, filers should contact FinCEN through the FinCEN Support Center at https://assistance.fincen.gov/contact/s/.
When submitting an inquiry, filers should select Bank Secrecy Act (BSA) as the General Subject Area, Regulatory/Policy/Business as the Type, and 8300/GTO and CMIR Inquiries for “Need Help With.”
All other questions about the GTO should be directed to www.fincen.gov/contact, and should include the phrase “Minnesota GTO” in the description.